New Delhi: State-run CIL on Wednesday said that Competition Appellate Tribunal has set aside the Rs 1,773-crore penalty imposed on the company and the case has been remitted back to CCI for passing fresh orders.
“Competition Appellate Tribunal (Hon’ble) allowed CIL’s appeal setting aside the orders of the CCI imposing penalty of Rs 1,773 crore in relation to complaints filed by various power and non-power companies on December 9, 2013,” Coal India said in a BSE filing.
The case has been remitted back to Competition Commissionof India (CCI) for it to hear the matter again on merits and pass fresh orders, it said adding the CCI has been directed to pass this order within two months.
Finding the state-owned miner violating fair trade norms with regard to fuel supply pacts, CCI had penalised the company in December 2013. Following an appeal by Coal India, the tribunal had stayed implementation of the regulator’s order in February 2014.
The penalty of Rs 1,773 crore was also the first major one by CCI on a state-owned entity. Following complaints filed by Maharashtra State Power Generating Company and Gujarat State Electricity Corporation,
CCI had imposed Rs 1,773 crore on Coal India for abusing its dominant position by imposing unfair and discriminatory conditions in its fuel supply agreements.